The slot is the position of a backfield receiver about halfway between the offensive line and a split end. It can denote both the player and the position on the field.
A player can be the slot or can be in the slot. Sometimes the term is used to describe simply the inside receiver in a twins grouping. Typically slot receivers are covered by linebackers or safeties who tend to be less adept at coverage than cornerbacks.
Gridiron Glossary is a resource for football terms that are often used by commentators, coaches and players but rarely defined. If there is a term you have questions about or a definition you don’t agree with, let me know at billy@thirddowndraw.com.